AstraZeneca sold its stake in Moderna for more than $ 1 billion

AstraZeneca took advantage of the rise in Moderna's share prices.

The British-Swedish pharmaceutical company AstraZeneca has sold a stake in the American biotechnology company Moderna. It took advantage of the rise in Moderna's share price after the company began manufacturing vaccines against COVID-19. According to Reuters, which referred to The Times, AstraZeneca sold its 7.7 percent stake in Moderna for more than $ 1 billion (€ 825.01 million). It is not clear from the report for which period AstraZeneca divested its stake in Moderna. The partnership between AstraZeneca and Moderna will continue, added Reuters. None of the companies commented on the information on the sale of the stake in Moderna. The Moderna vaccine has been approved for emergency use in the United States. The company said last week that it expects to sell $ 18.4 billion in vaccine sales this year.